Bulgaria's Stara Planina Hold Sees Jan-Nov Sales Up 45.5%

Bulgarian blue-chip industrial group Stara Planina Hold said its consolidated sales are expected to increase 45.46% to 67.2 million levs ($46 million/34.4 million euro) through November.

The holding company's January-October sales rose 47.89% to 60 million, Stara Planina Hold said in a statement, released late on Wednesday.

Sales of hydraulic equipment producer M+S Hydraulic, 30.9%-owned by Stara Planina Hold, rose 61.7% to 52 million levs between January and October and are expected to post a growth of 62.94% to 57.9 million levs through November.

M+S Hydraulic posted a net profit of 6.1 million levs through October, Stara Planina Hold said, providing no comparative figure.

Stara Planina Hold said its car battery unit Elhim Iskra reported a 62.64% surge in its ten-month sales to 26.9 million levs, while sales at its other hydraulic equipment subsidiary, Hydraulic Elements & Systems (HES), increased by 66.81% to 24.7 million levs over the period under review.

The holding company said it expects January-November sales of Elhim Iskra to gain 62.45% to 30.4 million levs, while HES sales are seen at 27.5 million levs, up 60.15%.

Elhim Iskra posted a net profit of 3.4 million levs through October, while HES had a net profit of 1.6 million levs.

Stara Planina Hold was trading 2.74% higher at 2.45 levs in a volume of 385 shares on the Sofia bourse by 0810 GMT on Thursday, while M+S Hydraulic shares stayed flat at 5.65 levs in a volume of 718.

Elhim Iskra shares did not trade by 0810 on Thursday. They closed 1.21% lower at 2.37 levs on Wednesday as 1,040 shares changed hands.

HES gained 10% on Wednesday to end at 9.0 levs as 300 shares were traded.

(1 euro = 1.95583 Bulgarian levs)

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